Why Didn’t Your Home Sell?

Colorado Springs Area Real Estate Podcast with Tiffany Lachnidt

A home usually fails to sell either because of its price, condition, or marketing. Most agents will emphasize price and condition, but marketing is equally as important.

Looking to sell your Home? Get a FREE home value report

Looking to buy a Home? Search all homes for sale

So you listed your home and it failed to sell. What happened?

It can be frustrating hearing about how hot the market is and watching your own home sit idly on the MLS. The good news is, you’re not alone—close to 50% of homes that are listed fail to sell the first time around. The answer to why it failed to sell comes down to one of three things: price, condition, and marketing.

Many agents will tell their sellers that it’s price and condition, and it often is. But it’s important to also look at the marketing to make sure that your home is being shown in the best possible light. A great example of this is a home we listed two weeks ago. This home had been on the market about six months, through the height of the spring and summer selling seasons, and it failed to sell. The sellers reported that they had a few showings, but no offers.

When we visited the home, we discovered that it needed some staging. It was in excellent condition and showed well, but some of the rooms were not utilized as well as they could have been with staging. We restaged the home, then, and because it had such a unique layout, we used a new marketing tool called Matterport. This takes a full video of the home so that buyers can take a walking tour from behind their computer screen and get a first-person view of what each room looks like.

“

Don’t forget about marketing when selling your home.

”

Within two weeks, the house was scheduled to close by the end of the month. What this tells me is that because the buyers were closing so quickly, they were probably in the market when the home was marketed originally. We did make a price reduction, but only at 2%. I believe, therefore, that the house was not being shown well enough to draw in the buyer activity it needed.

This constitutes a very happy ending for the sellers, and we would like to do the same thing for you. The fall and winter months are great times to be on the market. Inventory is down, but that means less competition and buyers are still out there.

If you’re interested in buying or selling, please give us a call or send us an email. We look forward to hearing from you!